Sri Lanka: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Sri Lanka

The Sri Lankan unvulcanized rubber market reduced to $X in 2022, with a decrease of -7.1% against the previous year. In general, consumption continues to indicate a noticeable slump. Unvulcanized rubber consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Unvulcanized Rubber Production in Sri Lanka

In value terms, unvulcanized rubber production shrank slightly to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Unvulcanized rubber production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Unvulcanized Rubber Exports

Exports from Sri Lanka

Unvulcanized rubber exports from Sri Lanka contracted dramatically to X tons in 2022, falling by -25.7% against the previous year's figure. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of 38%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, unvulcanized rubber exports contracted to $X in 2022. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by 53%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main destinations of unvulcanized rubber exports from Sri Lanka, together accounting for 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +57.5%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from Sri Lanka, comprising 42% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+50.1% per year) and Taiwan (Chinese) (+3.7% per year).

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, rising by 17% against the previous year. Overall, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Sri Lanka

In 2022, after three years of growth, there was significant decline in purchases abroad of unvulcanized rubber and articles thereof, when their volume decreased by -24.3% to X tons. Overall, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 60%. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined notably in the following year.

In value terms, unvulcanized rubber imports reduced to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.9% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 60%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Malaysia (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of unvulcanized rubber imports to Sri Lanka, together comprising 68% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Malaysia ($X) and India ($X) constituted the largest unvulcanized rubber suppliers to Sri Lanka, together accounting for 65% of total imports.

Malaysia, with a CAGR of +33.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, rising by 25% against the previous year. Overall, the import price, however, showed a pronounced curtailment. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :